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Maroc Maroc - NEWSDELIVERS.COM - A La Une - 29/Jul 20:52

New UK Government Cuts Billions of Pounds to Fix 'Unsustainable' Public Finances

Britain's new finance minister, Rachel Reeves, announced spending cuts worth more than 13.5 billion pounds (about $17.3 billion) over the next two years Monday, aimed at helping to cover what she called 22 billion pounds of overspending by the previous government. Reeves said he would present a full budget on October 30, the first by the newly elected Labor-led government. He said it would include further “tough decisions” including on tax. The new government has also approved independent recommendations for a £9 billion pay increase for civil servants such as teachers and health service staff. In remarks seen by critics as paving the way for future tax rises, Reeves accused the previous Conservative-led government of covering up spending and said tough decisions were needed to prevent the budget deficit from ballooning to 25 per cent this year. FILE: Finance Minister Rachel Reeves visits the Oval Village project in London, July 8, 2024, after announcing the first steps the new Government will take to deliver economic growth. (Lucy North/Pool via REUTERS) “This kind of excessive spending is unsustainable. If left unchecked, it risks the stability of the economy,” Reeves told parliament. “That’s why we have to take the hard decisions now …

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